Income tax department extends deadline for electronic filing of various forms
Experts said that the move will provide much-needed relief to taxpayers for making the compliances and will also save them from the penal consequences of not being able to comply with the earlier timelines
The income tax department has given relief to taxpayers by extending the due dates for electronic filing of various forms. In a tweet, the income tax department said that this has been done since many taxpayers reported difficulties in filing of these forms.
"On consideration of difficulties reported by taxpayers & other stakeholders in electronic filing of certain Forms under the IT Act,1961, CBDT has further extended the due dates for electronic filing of such Forms vide Circular No.15/2021 dated 03.08.2021," the income tax department said on Tuesday evening.
According to the release of the finance ministry attached by the department in its tweet, "The quarterly statement in Form No. 15CC to be furnished by authorised dealer in respect of remittances made for the quarter ending on June 30, required to be furnished on or before July 15 under Rule 37BB of the Rules, as extended to July 31 vide Circular No.12 of 2021 on June 25 may be filed on or before August 31 2021."
{{/usCountry}}According to the release of the finance ministry attached by the department in its tweet, "The quarterly statement in Form No. 15CC to be furnished by authorised dealer in respect of remittances made for the quarter ending on June 30, required to be furnished on or before July 15 under Rule 37BB of the Rules, as extended to July 31 vide Circular No.12 of 2021 on June 25 may be filed on or before August 31 2021."
{{/usCountry}}The deadline for equalization levy statement in Form number 1 for financial year 2020-21 has also been extended till August 31, the release said.
{{/usCountry}}The deadline for equalization levy statement in Form number 1 for financial year 2020-21 has also been extended till August 31, the release said.
{{/usCountry}}"The Statement of Income paid or credited by an investment fund to its unit holder in Form No. 64D for the Previous Year 2020-21, required to be furnished on or before 15th June 2021 under Rule 12CB of the Rules, as extended to 15th July 2021 vide Circular No.12 of 2021 dated 25.06.2021, maybe furnished on or before 15th September 2021," it added.
{{/usCountry}}"The Statement of Income paid or credited by an investment fund to its unit holder in Form No. 64D for the Previous Year 2020-21, required to be furnished on or before 15th June 2021 under Rule 12CB of the Rules, as extended to 15th July 2021 vide Circular No.12 of 2021 dated 25.06.2021, maybe furnished on or before 15th September 2021," it added.
{{/usCountry}}"The Statement of Income paid or credited by an investment fund to its unit holder in Form No. 64C for the Previous Year 2020-21, required to be furnished on or before 30th June 2021 under Rule 12CB of the Rules, as extended to 31st July 2021 vide Circular No.12 of 2021 dated 25.06.2021, maybe furnished on or before 30th September 2021," according to the release.
Considering the non-availability of the utility for e-filing of certain forms, the CBDT has decided to extend the due dates for their electronic filing.
Nangia & Co LLP Partner Shailesh Kumar said that considering the technical glitches in the new Income tax portal, taxpayers were facing a lot of problems in meeting such timelines and many taxpayers could not even make compliance within the due date.
"The extension will provide much-needed relief to taxpayers for making the compliances and will also save them from the penal consequences of not being able to comply with the earlier timelines, due to technical glitches in the IT portal," Kumar added.
Intimation to be made by the pension fund and sovereign wealth fund in respect of investment made in India for the June quarter, which is required to be furnished by July 31, can now be furnished by September 30, the government release said.
